Ferrari has announced that it has signed a multi-year sponsorship deal with American software company Genesys.
The Scuderia's deal with its new team partner comes after the Italian outfit prematurely ended its cooperation with Swiss blockchain company Velas.
"Unfortunately, the agreement with Velas has been terminated early by us," Ferrari told Reuters, without specifying the reasons for the early termination.
"We do not comment on matters that are the subject of a dispute and/or litigation."
Ferrari also concluded its sponsorship deal with Snapdragon, an affiliate of American semi-conductor giant Qualcomm.
It is rumored that the aggregate dollar value for the two deals was an estimated $50 million, with Genesys now picking up part of the financial slack.
Genesys, which is based in Menlo Park, California, sells customer experience and call center technology to mid-sized and large businesses, allowing companies to deepen customer connection through cloud and digital technologies.
Ferrari says the company's logo will feature on the cars driven this season by Charles Leclerc and Carlos Sainz, but the American firm will also partner Ferrari in its 499P Hypercar endurance racing programme, including the Le Mans 24 Hours.
"We are delighted that Genesys are joining Scuderia Ferrari as a Team Partner and will also be featured in our LMH programme," commented Ferrari CEO Benedetto Vigna.
"As another business focussed on technological leadership they, like us, have a tireless approach to continuously improve and progress.
"I know that the synergies between our two businesses will deliver huge value on both sides".
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